NUR-SULTAN, Kazakhstan – A Memorandum of Understanding for the creation of the Caspian Environmental Protection Initiative (CEPI) between Kazakh nationwide petroleum firm KazMunayGas (KMG), Azeri state oil firm SOCAR, BP Exploration for the Caspian Sea, Equinor Apsheron and Total E&P Absheron was signed in Baku final Monday, the press service of KazMunayGas stated on September 15.
“The main objectives of the initiative are to create the first platform for environmental protection and joint research of international oil companies operating in the region. The activities of the participating companies will be aimed at active joint efforts to resolve the problem of climate change, which poses a threat to the environmental sustainability of the Caspian region,” KazMunayGaz stated.
In addition, CEPI collaboration entails researching and supporting greatest practices, requirements and applied sciences within the area of environmental safety.
“I am sure this initiative will become an excellent platform for dialogue and consultations, as well as an important step in joint actions to achieve environmental objectives in the Caspian region,” KMG Chairman Alik Aidarbayev stated, including that different corporations can also be a part of to CEPI.